UNIT 6 Practice Test

What does the term DATA mean?

• Numerical or verbal descriptions that usually result from some sort of measurement.

• Diving Among The Alligators
• Only numerical information that is used for a purpose.

• Numerical information organized around verbal information organized to its opposite.

What does the term INFORMATION mean?

• Data that has been processed and organized to provide context, relevance, and purpose.
• Raw unprocessed data organized around a common belief or misconception

• Random facts
• Unreliable sources

What is the best definition of a DATABASE?

• A collection of physical files stored in a filing cabinet
• Its the base after second in baseball.

• A structured set of data held in a computer and is used by an organization to make decisions

• A random assortment of data scattered across multiple devices that is accessible by computer network

The term Management Information System (MIS) is best defined as...

• A system that provides information to support marketing functions within an organization.
• A system that provides information to support decision-making and management functions within an organization.
• A system that tracks employee attendance and payroll for purposes of management

• A system that focuses on inventory management in a retail setting.

Which of these is not one of the five areas of management?

• Finance

• Operations

• Marketing

• Secretarial

Human Resources deals with this area of management...

• Financial Management
• Supply Chain Management
• Marketing Management
• Personnel Management

Accounting refers to the practice of...

• recording, summarizing, and forecasting financial transactions
• analyzing, interpreting, and presenting financial data
• tracking, organizing, and budgeting financial activities
• recording, analyzing, and reporting financial transactions

The term ASSETS means...

• Intangible concepts
• Valuable resources owned by an individual or organization
• A type of liability which is quantifiable for tax purposes only

• Non-essential items

The term LIQUIDITY means...

• The total value of a company's outstanding shares
• The amount of money a company has in its bank account
• The number of employees in a company
• The ease with which an asset or security can be converted into cash without affecting its market price.

The term LIABILITIES means...

• Profits earned by a company
• Assets owned by a company
• Financial obligations or debts a company owes to outside parties.
• Revenue generated by a company